Foreclosure Prevention Techniques to Consider

A variety of foreclosure prevention techniques are used by people in Phoenix, Arizona who are facing foreclosure every day. Today, we are choosing to focus our attentions on a fairly unknown, but still highly effective method of foreclosure prevention. To be sure, you should know that there are many foreclosure prevention techniques available to you. We lose count at about forty if you are keeping track at home. However, many of the foreclosure prevention techniques you may have heard of are simply ways to delay the process and do nothing to actually stop the process, which for most people is the goal in finding foreclosure prevention techniques.

Foreclosure prevention by slowing down the foreclosure process has a few advantages in Phoenix, AZ; you have the opportunity to stay in your home payment free for what can seem like a long period of time. Furthermore, it can give the chance to find foreclosure prevention through qualifying for a loan modification program run by the government or given by your lender. Some of these foreclosure prevention strategies can be done by you, but finding a foreclosure prevention specialist is probably in your best interest.

What are foreclosure prevention techniques? foreclosure prevention is used to delaying or halt the process of foreclosure. You should initially find out how a foreclosure works so that you can apply foreclosure prevention techniques that will best serve you. If you have a basic idea how the foreclosure process flows, you can use foreclosure prevention techniques to delay the progress of your foreclosure.

Some delay techniques include the following…

Respond to the foreclosure Summon -- If you respond to the foreclosure letter from your mortgage lender, this foreclosure prevention option will stop the process for a several weeks or months.

Negotiate the late payments as a form of foreclosure prevention. If you and the lender can agree on a payment plan to cover the late payments your lender may choose to halt the foreclosure process. This foreclosure prevention technique is not negotiating a mortgage refinancing, but it is paying off you late payments.

File for bankruptcy as a source of foreclosure prevention. This is really a silly foreclosure prevention strategy. Filing for bankruptcy gives you horrible credit and, even though it can delay the process, you will maybe lose your home in foreclosure anyway. This foreclosure prevention strategy is not a decision that you should make without careful consideration.

The best foreclosure prevention strategy is to utilize a not well known process called the short sale. You can contact a real estate agent that knows about this foreclosure prevention strategy and they will explain to you how it works. It will get you away from foreclosure and it keeps the bank happy to. So, your credit won’t take a big hit from using a short sale.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: short sale,loss mitigation,foreclosure

Your First Step To Foreclosure Prevention

It does not matter how bad you believe your situation is. There are many foreclosure prevention options available to you in Phoenix, Arizona. You can stop the bank taking legal action and still keep your family in its home.

Finding a foreclosure prevention expert in Phoenix, AZ is the first step in avoiding foreclosure. A foreclosure prevention expert can keep the bank from taking your property and help you get those payments back to current. There are real estate companies that specialize in foreclosure prevention. They have the ability to negotiate with your bank in ways that you may have never dreamed possible. Options for foreclosure prevention include such things as loan modifications or even better, short sales.

While you could apply for a loan modification on your own, it is important that you have a foreclosure prevention expert to understand the laws and details that are known by a foreclosure prevention expert. You may not know the steps to foreclosure prevention that are needed to convince the bank's loss mitigation department to go ahead with your loan modification or short sale. This is where a foreclosure prevention expert can be a big help to you and your family.

Instead of sitting around worrying about your lack of knowledge regarding foreclosure prevention, work on taking steps to get informed about foreclosure prevention to help yourself out of this situation. The first step is find a foreclosure prevention expert to act on your behalf in a short sale or loan modification plan. A foreclosure prevention expert can sometimes even get the bank to waive all the penalty fees that they have tacked on to your original balance making it easier for you to bring your mortgage current.

Establishing a clear line of communication with your lender is important. This is just one more thing that a foreclosure prevention expert can do. Your lender is more likely to deal with a foreclosure prevention expert because they know what they are talking about. Avoiding your bank will lead them to believe that you don't want to pay your bills. And contacting them yourself can leave you vulnerable to all of the things that you don’t know and a foreclosure prevention expert does know.

Any home owner staring at an impending foreclosure knows how much stress it can cause in your life. It is important to remember that you are not alone in this process. Find a foreclosure prevention expert to help you deal with it. When you find that expert in foreclosure prevention, be sure to ask them about a short sale. It is not a widely known process, but has been proven very effective in this area. Foreclosure prevention can take on many different forms. The short sale is considered by most to be the best option to foreclosure prevention.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: short sale,loss mitigation,foreclosure

Explanation of Government Foreclosure Prevention Program

The current administration recently rolled out a federally funded program called the foreclosure prevention program. The foreclosure prevention program could potentially help millions of Americans who are struggling to pay their mortgages.

The economic adversity in Chandler, Arizona that we are currently facing has caused the loss of thousands of jobs each month. This uptick in unemployment is one of the greatest reasons for the foreclosure prevention program.

The drastic need for a foreclosure prevention program also came to fruition because of the crash of the housing market and property values. With property values being just a fraction of the loan values, foreclosure prevention is needed now more than ever.

The foreclosure prevention program costs several billion dollars. Foreclosure prevention in the form of the government program is aimed at helping about nine million property owners and is effective until 2012. This foreclosure prevention program allows home buyers to adjust the terms of their mortgage, but they are only allowed to do it once.

The first step in the success of this foreclosure prevention program is to get the home owners mortgage payment to be less than 30 percent of their income. This foreclosure prevention technique is much like a loan modification that you would do with the bank. Basically, it is foreclosure prevention because it makes the terms of your mortgage payment comfortable for you and acceptable for the bank. There are several criteria to qualify for the foreclosure prevention program. See if you qualify based on the list below….

In order to quality, the home owner must have the following.
- Obtained your mortgage before January 1, 2009.
- mortgage that is less than $729,500
- provide tax returns and pay stubbs
- Sign a statement of hardship

So long as the mortgage interest rate stays high enough, the lenders will follow a specific plan to help you lower the total payments considerably for you. Following that, the administration will do its thing with the foreclosure prevention program and your payment will be lowered to thirty percent of your income or less, which will make it affordable for you to pay.

That interested rate mentioned above is guaranteed for a five year term in Chandler, AZ. After the five years are up, the rate can rise by one percent, which won’t be much. It will rise every year until it reaches either the current rate or the previous rate that you had, which ever comes first. Lenders are going to receive money for each of the loans that they refinance through the foreclosure prevention program.

If this government program seems complicated for you, you might want to contact a real estate expert who can give you advice in foreclosure prevention. However, you may also consider a short sale. It can provide greater relief for some than this complicated government program.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: short sale,loss mitigation,foreclosure

Finding Foreclosure Help, Government Help or Short Sale

IF you are in search of foreclosure help in Phoenix, Arizona and are not sure where to turn, consider the government’s plan to help you out. However, realize that the government plan for foreclosure help, basically a loan modification, has several requirements that may cause you to be ineligible. We believe that foreclosure help from the government is just the second best option. The best foreclosure help available to you is the short sale. Here are the two plans, in a nutshell, and some of the things to consider with each.

With the government program, you will only receive foreclosure help in Phoenix, AZ if you meet the criteria laid out by the government and get your application for foreclosure help is during the time frame that the government sets aside. Here is that criteria as we understand it….

1. You must live in the home that you are seeking foreclosure help for.

2. The mortgage you are seeking foreclosure help on must have been obtained prior to January 1, 2009.

3. foreclosure help can not be used on mortgages that are more than $729,750.

4. Your total monthly mortgage payment, including taxes, insurance, and homeowner's dues has to be more than 31 percent of your gross monthly income.

5. To receive foreclosure help, you must be a difficult financial situation.

6. If your payments are up to date, you can still qualify for foreclosure help, but you need to prove that your current financial status will probably lead to defaulting on your loan

If you qualify for foreclosure help based on the criteria above, you have a good chance of getting a loan modification that will better suit your needs. We recommend that you apply for foreclosure help as soon as possible. Do the following to get qualified for foreclosure help…

· Let the bank know that you would like foreclosure help with the President’s loan modification program

· When you contact the bank regarding foreclosure help, verify the above criteria with them, but do not give them any information yet.

· Accurately supply the lender with the above criteria. There are no “do overs”. So check and double check to be sure that they information shows you qualify.

President Obama's Stimulus Plan might give you the foreclosure help that you need. It will certainly be a good option for some people

The second, and in our opinion, better option, for many people is the short sale. With a short sale, you will place your house on the market and get an offer from a perspective buyer. To get the foreclosure help you need, you can avoid foreclosure all together by taking the offer to the bank and telling them that they should take the offer because you will otherwise default on your loan. They, in many cases, because you need foreclosure help, will accept the offer and forgive the remaining loan balance. They do this because the lender realizes that they will recover more money from you selling the home than they can if they have to sell the home through a foreclosure sale.
BE SURE TO FIND A QUALIFIED REAL ESTATE AGENT TO HELP YOU WITH THIS PROCESS!

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: foreclosure,avoid foreclosure,short sale,loss mitigation

Foreclosure Help, The Bank’s Big Secret

There are many families in Phoenix, AZ that are finding themselves in a financial hardship and in serious danger of losing their house to foreclosure. The bad news is increasing everywhere. Unemployment is on the rise in Phoenix, Arizona. Property values are falling. Foreclosures are up. On time payments are down. It all seems to be going wrong. So, what can you do to find foreclosure help.

With respect to losing your home, you need to know where you can get foreclosure help, and what options are available to you. Your mortgage lender will not tell you about the thirty or more options available to give you foreclosure help and keep your home. However, they are willing to work with you if you know what your options for foreclosure help are.

Some estimates state that more than 90 percent of people that are facing foreclosure could avoid it if they just know where to find foreclosure help. Hence, it is fundamentally important that you know the foreclosure help options available to you.

Here are just a few foreclosure help options to consider:

Forbearance agreement for foreclosure help – a great option for those that are near the end of their financial troubles (which is not many of you) It lets you get your mortgage current with a payment plan

Deed in Lieu for Foreclosure – If you won’t be able to catch up on your payments, this foreclosure help option can be good for you. It is better for you credit score than foreclosure and the bank likes it because it saves them money.

Short Sale – Using the short sale as foreclosure help REALLY HELPS. For those that are in a tough situation and can not afford the home they live in, the short sale is the best option for the bank and the home owner. With a short sale as foreclosure help, you can find a real estate expert that deals in short sales (there are not many around that are experts at it) and have them put your house on the real estate market. Wait for an offer (there will be offers, because investors are gobbling up short sale homes quickly) Then take the offer to the bank with the idea that they should accept the offer, despite the fact that it is not enough to pay off your mortgage. You also want them to forgive the remaining balance of the loan. THAT’S RIGHT, they will forgive the remaining balance. Lenders do this because they want to avoid foreclosure just as much as you do. You need to understand what they already know. The offer that you bring them will almost certainly be more than the money they get from selling your house at foreclosure sale. With the legal hassle and fees that come along with foreclosure, banks also understand the cost savings of agreeing to use a short sale as foreclosure help.

These are just a few of the foreclosure help options available to you. The short sale is definitely the best option for most people. However, many just don’t know about it. Contact a real estate expert today regarding the use of a short sale as foreclosure help.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: foreclosure,avoid foreclosure,short sale,loss mitigation

Foreclosure Help, Which Option Is The Right Option

Finding foreclosure help from a real estate expert in Chandler, Arizona during your financial mortgage crisis is in your best interest. There are a limited number of people that can provide foreclosure help, because of the complexity that is entails. We have provided links to find the expert that can give you foreclosure help on this page.

The best advice we can give you regarding foreclosure help, is to use common sense. You can no longer pay the mortgage payment. Often times this is through no fault of your own. So, the real key to foreclosure help, is avoiding foreclosure all together. Why go through the headache of foreclosure when you can find foreclosure help before the bank sends you that dreaded foreclosure notice. There are scams for everything now days, which is why we have provided you with a respectable real estate expert linked to this page that will give you the foreclosure help that you need. They are local industry experts experienced in giving people just like you foreclosure help.

Many options are available to people in Chandler, AZ looking for foreclosure help. However, because of the complicated nature of many of those foreclosure help options, you will be better served to find an expert that can handle your foreclosure help needs.

Here are some of the options available to you now…

Loan Modification – This foreclosure help option gives you the opportunity to change the terms of your current mortgage agreement so that you can begin making payments that you are comfortable with and get yourself back on track. The bank will sometimes allow this, but it is solely at their discretion. Since, they are in the business of making money and you have already signed an agreement (your mortgage) with them, they are not always willing to modify your loan.

Bankruptcy – This foreclosure help option is really no option at all. We only mention it because some will give you advise that bankruptcy is a good foreclosure help option for you. However, consider that many states have different rules with regards to bankruptcy and you may or may not get any foreclosure help with this option. More importantly, you will ruin your credit for, at minimum, seven years.

Government foreclosure help programs – While foreclosure help is available through the government, we have found that between the criteria to qualify for this program and the information and paperwork that is needed to qualify (like any other government program, paper work, paper work, paper work) this program can be as troublesome as the situation you are already in.

Short sale – Using the short sale as a mean of foreclosure help can be the single best option available to a person that can not make the payments. With a short sale, you get out from the burden of your mortgage owing nothing and your credit, while it does take a small hit, will not be nearly as tarnished as if you were to file for bankruptcy or have your house foreclosed on. ASK A REAL ESTATE EXPERT TO EXPLAIN THIS GREAT OPTION TO YOU TODAY!

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: foreclosure,avoid foreclosure,short sale,loss mitigation

What You Might Not Know About Foreclosure Help

Other than some very personal tragedies in a person’s life regarding health and human interaction, there are very few things that are as stressful and unnerving as going through foreclosure. Given the hardships that foreclosure can bring, allow us to give you some advice in your search for foreclosure help. Foreclosure in Scottsdale, Arizona is a problem that can be fixed if you understand the process and where to find the needed foreclosure help. There are many things to note and consider when thinking about foreclosure help.

A few initial thoughts…
There are literally a dozen different options in Scottsdale, AZ when looking for foreclosure help. However, because we have been led to believe that foreclosure is a certainty when we find ourselves in trouble paying our mortgage, we don’t see the many options that are available for us to find foreclosure help. Homes, titles, loans, and banks have so many complex rules that often times wading through the details gets us lost as we look for foreclosure help.

What you probably know…
We’re fairly certain that you understand that your best foreclosure help is to pay your outstanding mortgage debt, bring your loan current, and be done with it. However, if you are looking for foreclosure help, you probably don’t have the financial means to come up with the lump sum that is required to handle possible foreclosure in this manner. You probably understand that the bank only wants their money. And even though they want you to find foreclosure help and avoid foreclosure, with your past payment history and their knowledge of how these things normally turn out, they are not going to spend their resources to find you foreclosure help.

What you might not know…
As stated above, the bank or lender that holds your mortgage note wants you to find foreclosure help or avoid foreclosure all together. After all, they just want their money. It is also important to note, however, that the lender is also in a bit of a bind. If you are not paying the mortgage, and they must sell the home at foreclosure, they will almost surely get just a fraction of the money that is owed on your loan.

What you should do...
Because you need are considering looking for foreclosure help, you probably haven’t even considered leveraging the banks need to recover their money by using a short sale. With a short sale, you don’t actually get foreclosure help, because you avoid foreclosure completely. In a short sale, you find a real estate agent to put your house on the market. Then, when you receive an offer, you take it to the bank. Although the offer will probably be less than the value of loan, the bank is prone to take the offer because they will get more from the short sale of your home than they can recoup from a foreclosure sale.

The short sale is the best form of foreclosure help available to you. It can help you avoid foreclosure all together and give both the lender and the you the best solution to an unfortunate hardship.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: short sale,foreclosure,loss mitigation

Need Foreclosure Help, Find a Short Sale Specialist

In the current stumbling economic times in Mesa, Arizona, the number of home foreclosures is rising consistently and drastically. People looking for foreclosure help are everywhere. This is due to a number of factors. With millions becoming recently unemployed, people that can no longer pay the mortgage are searching for foreclosure help because they can not afford the house that they live in. Also, there are people that have a home that is worth far less than their mortgage. So, they are also searching for foreclosure help. Then there are people who got themselves into a mortgage with an adjustable interest rate that has risen so much that they can not afford the house that they live in. They are also looking for foreclosure help. You need to be quick about finding foreclosure help, as you want to avoid the house going into foreclosure. When it gets into foreclosure, your chances of finding foreclosure help and getting out of the bad situation you are in become even more challenging.

In many cases, the banks in Mesa, AZ gave you mortgage terms that they new would potentially cause trouble in the future, but they just wanted you to sign on the dotted line and get into a mortgage that you could afford today, but not in a few years. Now those banks are in an interesting situation. They want you to find foreclosure help too! They do not want your house. They only want your money. So, you finding foreclosure help is in their best interest. But don’t expect them to help you find foreclosure help.

So, you are probably asking yourself, “what foreclosure help is available to me?” There are lots of foreclosure help options, but not many of them are good options for you. Most of them are delay tactics to give you time to win the lottery and pay off the mortgage. So, do you really want to use the lottery as your foreclosure help?

The one good option that we have found is the short sale. With a short sale, you can get the foreclosure help that you are searching for. In a short sale, you will need to find a real estate agent that deals with short sales because it is a special kind of foreclosure help that not all real estate agents deal with. In a short sale, your real estate foreclosure help specialist will put your home on the market and get an offer. Then they will take the offer to the bank and tell them that they should take the offer and forgive the rest of the loan that you owe because the offer will not cover the entire loan value. This may seem crazy, but the bank understands that if they foreclose, they will have to deal with a ton of extra fees. Also, they will not get as much money if they have to sell the house at a foreclosure sale.

The short sale is the best form of foreclosure help. Find a real estate agent that specializes in foreclosure help and can handle your short sale.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: short sale,foreclosure,loss mitigation

Read Now for Foreclosure Help

If you have fallen on hard times financially and are not making your normal mortgage payments, you should be aware that you are vulnerable to the bank foreclosing on your home in Scottsdale, Arizona. The foreclosure risk rises daily. You do not want to be forced to leave your home, and, to be honest, the bank does not want to forcibly remove you from your home either. So, perhaps it is time to search out someone in Scottsdale, AZ knowledgeable in getting you foreclosure help.

You should start your search for a foreclosure help specialist immediately, because timing is crucial when you are looking for foreclosure help and facing a possible foreclosure. Because of the increase in foreclosures, there are now people who can offer you foreclosure help and specialize in this service. You will find great comfort in finding a foreclosure help specialist to help you sort through the painful process of getting your life back in order. Foreclosure help is not something you should have to face alone.

Find a Realtor to give you foreclosure help

In your search for foreclosure help, your first step should be to find a qualified real estate agent that specializes in foreclosure help or short sales. Most real estate businesses can point you in the direction of a person that can offer foreclosure help. The internet is also a good source for finding foreclosure help specialists. There are links on this page that can get you in contact with a foreclosure help specialist immediately. Using the links to find foreclosure help, you will also have the ability to do a little research as to the options available to you in avoiding foreclosure.

Make note of the contact information that is provided and all of the information that you may need before you make an appointment with the foreclosure help specialist to consult with them in person or over the phone. You are not obligated to do anything. This is just the first step in finding foreclosure help. This foreclosure help company, like any other, will be happy to explain to you the services that they offer. There will be no expectations that you are committing to use them to get foreclosure help.

Finding foreclosure help via the internet

In the past, there may have been some hesitancy in using the internet to find this information. However, because short selling and foreclosure help are in such high demand now, regular means of finding foreclosure help (phone books, yellow pages, etc.) will probably only lead you to a real estate agent, which, in many cases may not deal with foreclosure help. Using the internet to find foreclosure help will give you almost immediate access to the services that they provide.

Also, because the internet is available twenty four hours a day, you will not be limited in your search for foreclosure help. Because time is critical, using the internet can save you much time in finding someone to assist you with foreclosure help.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: short sale,foreclosure,loss mitigation

STOP FORECLOSURE SALE THROUGH THE SHORT SALE PROCESS

In order to stop foreclosure sale in Scottsdale, AZ, you must take immediate action as a home owner. To many people simply overlook this option in the process of trying to stop foreclosure sale. All to often we believe that trying to stop foreclosure sale is an uphill battle that we can not win. That just is not true. Finding a bank in Scottsdale, Arizona to give you a loan that will cover your mortgage payments is sometimes an option for people, but it is tough to get a loan when you can’t pay another loan.

For most people who own a home that they want to stop foreclosure sale on, selling the home is the best chance they have of them trying to stop foreclosure sale. It is not well known to most people, but you do not need to worry, in most cases, that the sale price of your home may not pay of the amount of the loan that owe the mortgaging company or mortgage lender.

Perhaps you have landed on tough financial times and it is now clear to you that the home you have is no longer the home you can afford. So, through this new insight you are trying to figure out how to stop foreclosure sale. Many people who are in that situation do not think that they can sell their homes because the value of their home is now less than the loan amount because of the currently stinky economy and fluctuating property values. The economy, your current financial situation, and other factors are sometimes not things that you have any control over. However, we want you to know that you DO have control over whether or not you can stop foreclosure sale of your home. To the inexperience eye, it would appear that if you sell your home at a price that is far less than the price you bought it at, you will have TWO tragedies on your hands. First, you will not have a home. And second, you will still owe the bank a pile of money because the sale of your lesser valued home will not cover your remaining debt.

Enter into the picture a fairly new strategy for dealing with this dual tragedy, the short sale. The short sale is a great way to deal with both tragedies and stop foreclosure sale of the home. With a short sale, you can sell the home for less than the mortgage note and work with the bank to accept this offer while forgiving the remainder of the mortgage loan. In this way, you can avoid both tragedies, because you get yourself free of the mortgage loan and by selling the house, instead of having to stop foreclosure sale or worse yet, actually have your house foreclosed on, you can buy another house in a fairly short period of time.

Many of the questions as to how and why this works can be answered by a real estate expert. The basics of it are as follows…

-you can not afford the home you are in and you do not want to have the tarnished credit that comes with bankruptcy or foreclosure

-the bank will get more money and have fewer administrative fees from you selling the home than they will if they have to foreclose and sell or deal with you trying to stop foreclosure sale.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: short sale,foreclosure,loss mitigation

True Foreclosure Help, the Short Sale

If you find yourself being one of the millions of people that are in search of foreclosure help, you need to fully understand the situation that you and your lender are in. There are numerous rumors in Scottsdale, Arizona about the banks intentions with regards to foreclosure of your home. Among the most common myths, one that is completely incorrect, is that the bank wants your home. The truth of the matter is, the bank wants to give you foreclosure help. Why? Simply stated, the bank is in the business of money, not in the business of real estate.

There goal, as it was when they first agreed to lend you money, is to recoup that money WITH INTEREST. So, foreclosure help is something that the bank is interested in also. Unfortunately, they do not have the resources to help you find foreclosure help. Choosing to ignore the bank is certainly the furthest you can get from finding foreclosure help.

Another commonly mentioned notion is that the bank in Scottsdale, AZ will not take your money after a certain amount of time will pass. Yet again, the bank wants you to get foreclosure help, but they also want your money. While they would prefer that you pay one lump sum to bring your loan current, there are several noted situations where they can offer you foreclosure help by modifying your loan terms to make payments more suitable for you current financial situation. However, if they feel that it is in their best interest to not give you foreclosure help, and simply foreclose on your property, they understand that they can recoup money by selling your house after foreclosure.

Some people think that the best foreclosure help is to file for bankruptcy. While this can offer some foreclosure help, it generally only freezes the foreclosure process for a period of time. During that time you can search out another means of foreclosure help.

Perhaps the best foreclosure help available to you is the short sale. With a short sale, you get foreclosure help by avoiding foreclosure all together. In the short sale process, you place your home on the market and get an offer in hand. Then, with offer in hand, you go to the bank and explain to them that the home is only worth the price of the offer. Since the value of homes has dramatically decreased over the past several months, chances are that the new offer will not cover the existing loan balance. However, the bank will be inclined to accept the offer and forgive your remainder of the balance because they understand that they will not get nearly as much money if the have to foreclose on the home and sell it in foreclosure.

The short sale is the best option available to anyone that is looking for foreclosure help. It gives the bank the most of what they want, money. Also, it keeps you from having to go through foreclosure.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: short sale,foreclosure,loss mitigation

Find foreclosure help Before It’s Too Late

In case you have been living in a cave (which would mean this article is irrelevant to you because you don’t need foreclosure help), we thought you should know that the country is in a bit of financial turmoil. Millions of home owners are facing mortgage problems and thinking about how to get foreclosure help. Never before in history has the foreclosure rate in Phoenix, Arizona been so high. The current administration and congress have been rolling out programs everywhere you turn to help the economy recover. Indeed one of their focuses is on the housing market. They understand that many are searching for foreclosure help.

With banks receiving billions of dollars in bailout money, you would think that they could lend a hand to home owners looking for foreclosure help. However, to date, that has not happened.

If you are one of those unlucky home owners looking for foreclosure help, there are some options available to you. However, given the fact that you may be facing foreclosure, most of the options are not truly a way to find foreclosure help, but rather a way to deal with your impending foreclosure. Here are a few options to consider, as well as our personal opinion on the validity of using each option to get the foreclosure help that you need.

Bankruptcy – filing for bankruptcy in Phoenix, AZ is not really a positive way to get foreclosure help. Depending on the state that you live in, bankruptcy may not even be a possibility in avoiding foreclosure. However, it is an option, albeit the worst option. With bankruptcy (depending on the laws that differ in each state) you may be able to avoid foreclosure, but your credit will be ruined for a minimum of seven years.

Loan modification – With loan modification the chance at receiving foreclosure help is better than bankruptcy. However, the modification of your current mortgage is entirely up to the lender that you are working with. The lender can modify your loan to better fit your needs at their discretion. Since they are also struggling, they may not be inclined to change the terms of your loan as foreclosure could get them more money in the short term.

Short sale – The Short sale of your home is, WITHOUT a DOUBT, the best option available to someone looking for foreclosure help. To be clear, however, considering this foreclosure help is not entirely accurate as you need to start this process BEFORE the bank decides to foreclose on your property. With a short sale, you put your home on the market and find a buyer for it. Then, we you have an offer in hand, you can negotiate with the bank to take the offer even if the offer doesn’t cover the entire value of the loan. The bank will often times accept this lower offer because they understand that they will not get nearly as much if they sell the home at foreclosure. They will also forgive the remainder of the loan to remedy the process.

There are not a great deal of options available to you if you are looking for foreclosure help. However, foreclosure help is available. We feel that your best option, and your only option if you want to come out of this hardship with as little damage as possible, is the short sale.

Do you have questions? Read the Short sale FAQs.

Are you a Realtor? Then get free short sale training by Kevin and Fred at Free Realtor Training on ShortSalePower.com

Technorati Tags: short sale,foreclosure,loss mitigation